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noncallable obligations of a state or an agency or a county, municipality, or other political
<br /> subdivision of a state that have been refunded and that are rated as to investment quality by a
<br /> nationally recognized investment rating firm not less than "AAA" or its equivalent, which, in the
<br /> case of(i), (ii) or (iii), may be in book-entry form, and the principal of and interest on which
<br /> will, when due or redeemable at the option of the holder, without further investment or
<br /> reinvestment of either the principal amount thereof or the interest earnings thereon, provide
<br /> money in an amount which, together with other moneys, if any, held in such escrow at the same
<br /> time and available for such purpose, shall be sufficient to provide for the timely payment of the
<br /> principal of and interest thereon to the date of maturity or earlier redemption;
<br /> provided, however, that if any of the Certificates are to be redeemed prior to their respective
<br /> dates of maturity, provision shall have been made for giving notice of redemption as provided in
<br /> this Ordinance. Upon such deposit, such Certificates shall no longer be regarded to be
<br /> Outstanding or unpaid. Any surplus amounts not required to accomplish such defeasance shall
<br /> be returned to the City.
<br /> Section 9.2: Ordinance a Contract - Amendments. This Ordinance shall constitute
<br /> a contract with the Registered Owners from time to time, be binding on the City, and shall not be
<br /> amended or repealed by the City so long as any Certificate remains Outstanding except as
<br /> permitted in this Section. The City may. without the consent of or notice to any Registered
<br /> Owners, from time to time and at any time. amend this Ordinance in any manner not detrimental
<br /> to the interests of the Registered Owners, including the curing of any ambiguity, inconsistency,
<br /> or formal defect or omission herein. In addition, the City may, with the consent of Registered
<br /> Owners who own in the aggregate 51% of the principal amount of the Certificates then
<br /> Outstanding, amend, add to, or rescind any of the provisions of this Ordinance; provided that,
<br /> without the consent of all Registered Owners of Outstanding Certificates, no such amendment,
<br /> addition, or rescission shall (i) extend the time or times of payment of the principal of and
<br /> interest on the Certificates, reduce the principal amount thereof, the redemption price, or the rate
<br /> of interest thereon, or in any other way modify the terms of payment of the principal of or
<br /> interest on the Certificates, (ii) give any preference to any Certificate over any other Certificate,
<br /> or (iii) reduce the aggregate principal amount of Certificates required to be held by Registered
<br /> Owners for consent to any such amendment, addition, or rescission.
<br /> Section 9.3: Legal Holidays. In any case where the date interest accrues and
<br /> becomes payable on the Certificates or principal of the Certificates matures or the date fixed for
<br /> redemption of any Certificates or a Record Date shall be in the City a Saturday, Sunday, legal
<br /> holiday or a day on which banking institutions are authorized by law to close, then payment of
<br /> interest or principal need not be made on such date, or the Record Date shall not occur on such
<br /> date, but payment may be made or the Record Date shall occur on the next succeeding day which
<br /> is not in the City a Saturday, Sunday, legal holiday or a day on which banking institutions are
<br /> authorized by law to close with the same force and effect as if(i) made on the date of maturity or
<br /> the date fixed for redemption and no interest shall accrue for the period from the date of maturity
<br /> or redemption to the date of actual payment or (ii) the Record Date had occurred on the fifteenth
<br /> calendar day of that month.
<br /> Section 9.4: Power to Revise Form of Documents. Notwithstanding any other
<br /> provision of this Ordinance, the Mayor is hereby authorized to make or approve such revisions,
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